Just returned from Madrid where I roomed at the Hostal Jaén on calle Cervantes (a couple of blocks away from, and parallel to, calle Huertas). I found the hostal on MadridMan’s website and booked the room by e-mail ( www.hjaen.com
The Jaén provides very good value for the money, and is recommended. It’s on a quiet street, away from the hustle and bustle of Huertas. (I once stayed at the Lopez, but found it rather noisy, either from the bar crowds or from the restaurant downstairs. The Jaén is a much better deal.)
Speaking of Huertas, it’s now a pedestrians-only street. Great improvement, except for the jerks on scooters (visions of deep pits with donkeys in them come to mind). One wonders just how all those people fit on the street along with the cars in the past. It’s also greatly lowered the traffic in the whole Huertas/Plaza Santa Ana area, for the benefit of all.
I took a single room with a bath (con baño)for 30€ a night. It was roomy and very, very clean. The bed was very comfortable. The only hitch is the owners do not speak English. Fortunately, I speak Spanish so it wasn’t a problem.
Another bonus ... there are two (2!!!) laundromats right at the corner, and one even has Internet access for 1€ /half hour. Something to do while your clothes are spinning.
During my various trips to Madrid, I have roomed at the Lopez, Cervantes, Gonzalo, Plaza D’ort, Perla Asturiana, and others. The Jaén will now be my first choice.